Places for People’s investment arm appoints new CEO
The fund management arm of the large social landlord has appointed a new chief executive.
PfP Capital, which was created by Places for People in 2017 to invest in the private rented sector, has appointed Catherine Webster to the role.
Ms Webster, who replaces Chris Jones, will take up the post in January 2023.
She joins from Quintain, the property development and investment specialist where she is executive director for strategy and investment, leading on business strategy, financing and investment initiatives.
Ms Webster has worked in real estate investment and finance for 30 years. She has held several senior investor and lender roles in private equity, fund management and investment banking.
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PfP Capital runs several funds aimed at attracting money from investors to deliver private rented homes.
Since 2019, it has set up three funds, including a build-to-rent fund aimed at attracting £500m to construct 3,000 new homes.
It currently has £600m under management across the three funds.
Greg Reed, chief executive of Places for People and a board member of PfP Capital, said Ms Webster was a “stellar appointment”.
“Since it was founded five years ago, PfP Capital has been successful, and we now have big plans for growth.
“We have the opportunity to build on our success to date and really scale up the business.
“I know the experience and leadership Catherine brings will add greatly to our team and really drive us forward,” he said.
Ms Webster said: “Backed by the power of Places for People, the potential for growth from this solid foundation is massive.
“Above all, with the company’s strong social purpose, we will have a positive impact on the communities we serve and the wider UK society.”
